The Hidden Economy in Bulgaria - Opinions and Assessments from Representatives of the Business

Vasil Bozev and Iva Raycheva
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Vasil Bozev: University of National and World Economy, Sofia, Bulgaria
Iva Raycheva: University of National and World Economy, Sofia, Bulgaria

Ikonomiceski i Sotsialni Alternativi, 2024, issue 2, 145-156

Abstract: The article aims to present the results of an up-to-date independent study of the hidden economy in Bulgaria. It was carried out between November 2023 and February 2024, as a survey among business representatives in the country through a representative sample of 335 enterprises. The main results show that the estimated share of the hidden economy in the total sales volume is between 26% and 50%, the highest in the construction sector, catering, and tourism. Most often, these practices are associated with manipulation of the financial statements and the employed workforce for which they are favorable conditions mainly due to corruption, crime, and impunity followed by unfair competition and a lack of incentives for private business development.

Keywords: tax evasion; corruption; hidden economy; informal contracts (search for similar items in EconPapers)
JEL-codes: D73 E26 H26 J46 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:iisabg:y:2024:i:2:p:145-156

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